Quarterly ResultMay 6, 2026, 04:09 PM
Xencor Q1 Net Loss $(128.9)M; Revenue Down 86% YoY
AI Summary
Xencor Inc. reported a significant increase in net loss for the first quarter of 2026, reaching $(128.9) million, compared to $(48.4) million in the same period last year. Total revenue plummeted 86% to $4.5 million, largely impacted by a $6.6 million reduction in royalty revenue due to a dispute with Alexion regarding U.S. sales of Ultomiris. The company also recognized substantial net losses of $(51.9) million on marketable equity securities, primarily from its investment in Zenas BioPharma, Inc.
Key Highlights
- Net loss attributable to Xencor Inc. was $(128.9) million, up from $(48.4) million year-over-year.
- Total revenue decreased 86% to $4.5 million from $32.7 million in the prior year quarter.
- Net loss per share was $(1.71) compared to $(0.66) in the same period last year.
- Alexion dispute led to a $6.6 million reduction in royalty revenue for U.S. Ultomiris sales.
- Recorded $(51.9) million in net losses on equity securities, primarily from Zenas BioPharma.
- Cash and cash equivalents decreased to $14.2 million from $54.1 million at year-end 2025.
- Net cash used in operating activities increased to $(67.6) million from $(16.2) million YoY.
- Research and development expenses rose to $64.7 million from $58.6 million year-over-year.
Price Impact
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